<ARTICLE>                     5
<LEGEND>
This schedule contains summary financial information extracted from the
financial statements contained in the body of the accompanying form 10-Q and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER>                                    1,000

                                               
<PERIOD-TYPE>                                   3-MOS
<FISCAL-YEAR-END>                         DEC-31-1999
<PERIOD-END>                              MAR-31-1999
<CASH>                                          1,945
<SECURITIES>                                        0
<RECEIVABLES>                                       0
<ALLOWANCES>                                        0
<INVENTORY>                                         0
<CURRENT-ASSETS>                                    0
<PP&E>                                              0
<DEPRECIATION>                                      0
<TOTAL-ASSETS>                                 26,281
<CURRENT-LIABILITIES>                               0
<BONDS>                                        20,771
<PREFERRED-MANDATORY>                               0
<PREFERRED>                                         0
<COMMON>                                          568
<OTHER-SE>                                     (8,546)
<TOTAL-LIABILITY-AND-EQUITY>                   26,281
<SALES>                                             0
<TOTAL-REVENUES>                                  953
<CGS>                                               0
<TOTAL-COSTS>                                       0
<OTHER-EXPENSES>                                  955
<LOSS-PROVISION>                                    0
<INTEREST-EXPENSE>                                614
<INCOME-PRETAX>                                  (616)
<INCOME-TAX>                                        9
<INCOME-CONTINUING>                              (625)
<DISCONTINUED>                                      0
<EXTRAORDINARY>                                     0
<CHANGES>                                           0
<NET-INCOME>                                     (875)
<EPS-BASIC>                                      (.02)
<EPS-DILUTED>                                    (.02)